SoFi Technologies (NASDAQ:SOFI) Trading 2.1% Higher – Time to Buy?

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 2.1% during mid-day trading on Friday . The stock traded as high as $14.51 and last traded at $14.43. 13,713,445 shares changed hands during trading, a decline of 69% from the average session volume of 44,061,055 shares. The stock had previously closed at $14.13.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of analyst reports. Needham & Company LLC increased their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Mizuho increased their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.13.

SoFi Technologies Trading Up 3.1 %

The stock has a 50-day simple moving average of $14.52 and a two-hundred day simple moving average of $9.98. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market cap of $15.81 billion, a PE ratio of 145.71, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the prior year, the firm earned ($0.03) EPS. The company’s revenue was up 29.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock valued at $416,889,795 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

A number of institutional investors and hedge funds have recently modified their holdings of SOFI. Waller Financial Planning Group Inc. raised its holdings in shares of SoFi Technologies by 3,027.5% in the fourth quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company’s stock worth $157,000 after buying an additional 9,900 shares during the period. Everence Capital Management Inc. bought a new stake in SoFi Technologies during the 4th quarter valued at about $498,000. GAMMA Investing LLC boosted its position in SoFi Technologies by 40.3% in the 4th quarter. GAMMA Investing LLC now owns 5,925 shares of the company’s stock valued at $91,000 after buying an additional 1,703 shares during the period. World Investment Advisors LLC grew its stake in SoFi Technologies by 6.5% in the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company’s stock worth $171,000 after acquiring an additional 1,336 shares in the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of SoFi Technologies during the third quarter worth approximately $1,649,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.